EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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11-AUGEST-2014

INTERNATIONAL CURRENCY BUZZ

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Forex -Dollar falls on European data, geopolitical concerns Forex -CFTC - week ending August 5: speculators more bearish on Euro, Yen Forex -Dollar rises on jobless claims, though geopolitical woes dampen gains

USD/JPY USD/JPY hit 101.60 during late Asian trade, the pair's lowest since July 24; the pair subsequently consolidated at 101.73, shedding 0.35%.The pair was likely to find support at 101.42, the low of July 24 and resistance at 102.15, the session high.The greenback strengthened broadly this week after a series of upbeat U.S. economic reports sparked fresh speculation over the timing of a rate cut by the Federal Reserve.On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending August 2 decreased by 14,000 to 289,000 from the previous week’s total of 303,000.

GBP/USD In U.S. trading on Thursday, GBP/USD was trading down 0.08% at 1.6842 up from a session low of 1.6824 and off a high of 1.6864.Cable was likely to find support at 1.6822, Wednesday's low, and resistance at 1.6888, Tuesday's high. The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Aug. 2 fell by 14,000 to 289,000 from the previous week’s total of 303,000. Analysts had expected jobless claims to rise by 2,000 to 305,000 last week, and the numbers fueled already growing market expectations for the Federal Reserve to close its monthly bond-buying stimulus program in October and begin hiking interest rates afterwards in 2015.

DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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USD/JPY Hourly Chart

INTRADAY OUTLOOKSupport: 101.48Resistance: 102.15

RECOMMENDATION: 1. Buy USD/JPY Above 102.18: TG: 102.33/102.53 SL 102.032. Sell USD/JPY Below 101.45 TG: 101.30/101.10 SL 101.65

EPIC'S ANALYST SPEAKS

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GBP/USD Hourly Chart

INTRADAY OUTLOOKSupport: 1.6777Resistance: 1.6821

RECOMMENDATION: 1. Buy GBP/USD Above 1.6825 TG: 1.6840/ 1.6860 SL 1.68052. Sell GBP/USD Below 1.6772 TG: 1.6757/1.6737 SL 1.6792

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